Mass adoption is the key to make any project successful. Mass adoption for crypto is something that all projects strive for.
Some projects take the help of an airdrop and some take the aid of a web 2 campaign to increase their user base.
Circle's new initiative in Taiwan
Circle is going all out to increase its user base in Taiwan.
For this it is making use of two well known names in Taiwan.
First is the Taiwan familyMart and the other is BitoGroup.
Circle or Circle Internet Financial which is already a well known name in the crypto space has forged an strategic alliance with the leading crypto service provider of Taiwan the BiBito group and to tap into a large user base it is looking towards Family mart which has a chain of convenience stores and a huge client base.
Circle's strategy for Taiwan is to tap into the Family marts loyalty from and to let the users convert their loyalty points into circles USDC.
The New Point to crypto service
Using this service the users of FamilyMart would be able to convert the loyalty points they hold into digital currencies like Circle's USDC
The three partite agreement would boost the consumer economy for FamilyMart as more people may be inclined to use their stores and loyalty programs after hearing about this opportunity to own crypto by way of the loyalty program participation.
For the BitoGroup which already owns 90% of the market share and has 800,000 customers in its user base this may be seen as an opportunity to further strengthen its position.
Taiwan has been keen to implement an anti money laundering program.
With a well structured program maybe this would be an opportunity to give the people the opportunity to own and use crypto while still being bound by various KYC regulations that the government may like to implement when its citizens own and trade crypto via Bitgroup, its leading crypto exchange.
This lowers the bar of entry for Taiwan shoppers
FamilyMart being the 2nd largest convenience store chain has a huge customer base.
These users would get the opportunity to simply flip their loyalty points for crypto. How cool is that?
For the customers it would be a low effort transaction that would help them own and grow with crypto
There would be the need to educate people about crypto
Crypto is a great opportunity however when it is introduced at such a big level to a new set of people there is going to be the need to educate people and tell them how to keep their crypto safe and how to do swaps, trades and transfers.
Unless the new user base is educated there would be wallet thefts, scams and it may lead to unforeseen challenges for the people and an opportunity lost for many.
Could Hive & Inleo do what Circle is doing in Taiwan?
The hive blockchain is often looking to promote the decentralized web 3.0 opportunity it presents via its various blogging frontends.
Maybe such an initiative can bring a lot of users to hive as well.
Since Hive & inleo are not just about blogging and a creator's economy, maybe it can take the initiative of incorporating hive and leo payments at the local stores around the world and this would be a great way to increase Hive & leo adoption.
Final thoughts
1 Taiwan New Dollar is worth approximately 3 cents
1 TWD = 0.0308490 USD
That means it takes 32.4159 Taiwanese New Dollars to make 1 USD
This way circle would be able to spread its user base to a large population in Taiwan who may hold a fraction to a few USD worth of stable coins in their digital wallets and this would help the people of Taiwan an easy and simple way to acquire crypto.
Talking about adoption here is a great opportunity to be a part of the hive zealy campaign and be a part of a campaign that can help you earn five thousands worth of HBD
Please use the link to join the Hive zealy campaign here
Do bring your family and friends come and join the campaign and in case you or someone needs a hive account then feel free to get a free account via inleo using the link